Abbott Laboratories (ABT) Updates FY19 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.15-3.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.21. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.

A number of research firms have weighed in on ABT. Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $88.00 price target for the company in a research report on Tuesday, March 19th. Wells Fargo & Co reaffirmed a buy rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Royal Bank of Canada upped their price target on Abbott Laboratories to $82.00 and gave the stock a buy rating in a research report on Monday. They noted that the move was a valuation call. Barclays set a $84.00 price target on Abbott Laboratories and gave the stock a buy rating in a research report on Friday, March 8th. Finally, Bank of America reaffirmed a buy rating and set a $81.00 price target (up previously from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of Buy and a consensus target price of $80.48.

Shares of Abbott Laboratories stock opened at $73.92 on Friday. Abbott Laboratories has a 12-month low of $56.81 and a 12-month high of $80.74. The company has a market cap of $128.01 billion, a PE ratio of 25.67, a P/E/G ratio of 2.08 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The company had revenue of $7.54 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

In other news, insider Sharon J. Bracken sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $77.83, for a total transaction of $428,065.00. Following the sale, the insider now owns 50,019 shares in the company, valued at approximately $3,892,978.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph J. Manning sold 1,223 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $78.00, for a total value of $95,394.00. Following the completion of the sale, the insider now owns 61,324 shares in the company, valued at approximately $4,783,272. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,021 shares of company stock worth $20,485,856. Company insiders own 0.70% of the company’s stock.

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Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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